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will take a look at the details. >>> detroit may be the biggest u.s. city to ever declare bankruptcy. as it tries to fight its way back from a full-on collapse seems like the motor city's woes could have a major impact on other cities across the as we 9 embassies and consulate that were closed as a result of an al qaeda terror threat will reopen tomorrow, we will take a look at what motivated the change and what this means for an apparently ongoing threat. >> they had the capacity to go after our embassies. they have the capacity potentially to go after our businesses. they had the capacity to be destabilizing and disruptive in countries where the security apparatus are weak. i should definitely do laundry more often. yeah. by the time i do there's all these mystery stains. i mean is it coffee? could be gravy. yeah. so now i u tide boost with my tide. it's double powerful for when things get doubliffy. [ female announcer ] together, tide and tide boost double your power against stains that's my tide. first wait till summer. then get the cars ready. now add the dodge part. ♪ the do
bomb. >> new york city's mayor michael bloomberg says detroit's financial disaster should serve as a warning to all u.s. cities. >> the banks want to pick the bones clean. >> cuts will go into the bone the next time. cuts to police and fire, sanitation, economic development. >> the state of our city has never been stronger. >> what's the matter? >> i'm confused. >> forget about it. >> i don't think there's any mystery about what will happen next. >> the point is, ladies and gentlemen, that greed for lack of a better word, is good. >> when does the greed stop? >> big banks are the real parasites. >> i know which is right for new york. >> good to have you with us. thanks for watching "the ed show." if you have been watching this program over the last month, you know that i have paid a great deal of tang to what is going on in the city of detroit. because i have put out a narrative and now it is being played out by the biggest mayor in america. that there is going to be a template by conservative elected leaders, governors, mayors, when it comes the dealing with obligations, and of
came back right after the riots and there was a people's inquiry set up in detroit and rosa parks was a member of the commission. it was the people's commission. the sit down on the bus woman, she was on this commission and a radical lawyer who we all loved, a young black lawyer who was a radical, was the guy who organized it and after that to me was a parks was not just an icon. she was a person who i saw that had all kinds of activist things that we were all up to all the time. she was spared and she spoke at the south african movement demo. we told her to speak and she spoke eloquently at that and before that was at the convention where she and i were both and gary when all the civil rights people were denouncing us. the convention and gary, she was there. rosa parks was there when jimmy carter had an anniversary of round and i was speaking because i was running education and i made a freudian slip and said something about the president i didn't mean to say and she just died laughing. and please do all the time, correctly used to say to me the reason why you have to go you have
the battle over detroit's books. unions say detroit city was too quick to file bankruptcy. who will win? we'll check in on the math. that is coming up with ashley webster who joins me the next hour of fox business. please don't miss it. my mantra? trust your instincts to make the call. to treat my low testosterone, my doctor and i went with axiron, the only underarm low t treatment. axiron can restore t levels to normal in about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and medications. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet or body swelling; enlarged or painful breasts; problems breathing whilsleeping; and blood clots in t
're watching fox. keep watching. we will not stop watching out for you. ♪ ♪ >> david: well, first detroit goes bust. will new york and chicago be next? the mayors of those two cities warning that their public pension costs are growing totally out of control, which is really what did in detroit. and many other cities are facing the same time bomb. is this proof it's time to scrap public pensions before they all go bust? hi, everybody. i'm david asman. welcome to "forbes on fox." let's go in focus with steve forbes, john candy, rich carlguard, elizabeth mc donald. should we scrap the public pensions? >> yes. get rid of them. what is public service? a sacrifice. it's supposed to be a short-term sacrifice before you go to the private sector to produce real economic growth. the problem now with high government pay and the big pension plans is we're creating life long government workers that are a burden on the people working in the real economy. if you get rid of them, they have incentive to get in the real world and cities will no longer have pension problems. >> david: well, rick, and the pension
motown hits a high note.... why detroit's bankruptcy is attracting investors.... in today's cover story... will compeition in the discount airline industry give a lift to ticket sales. plus... the ultimate people mover. tesla's ceo is out with a plan that will whisk you around the nation.. and.... low cost vacation could be right around the corner... first business starts now! you're watching first business: financial news, analysis, and today's investment ideas good morning! it's tuesday, august 13th. i'm angela miles. in today's first look: trending now in the market: tech stocks..news out of apple and blackberry motivated buyers.. making the nasdaq the only major indicies to end the session in the green yesterday gold up $23, oil: 18cents. it could turn in to a not so yummy day for yum brands stock. the company that owns kfc continues to see a decline of sales in china due to a chicken scare allegedly caused by suppliers breakng rules. and the latest data shows.. american workers are up to 10 days of vacattion from 8 -- back in 1993. but they are also getting less paid sick
be nicer this week. now he is getting slack because he will be starting on friday against the detroit lions. he is taking the high road after reading this week saying f-u, hope you break youracl on friday. >>> andrew mccutchen, not only did his mother sing the national anthem, but he goes his 16th home run of the season. >> must have been mom being there. >> exactly. you know mama looks very proud. >> look how proud she is. i love it. >>> now to big plays in the little league, jacob garza and his team won a spot in the little league world series. garza w pitch perfect and did not give up a single hit during the game. not only that, he hit a home run that gave his team a 6-0 lead over new mexico. that kid is good. >>> and in st. louis, gangham style danceoff that went intergalactic, shall we say. during star wars night fans dressed as darth vader and storm troopers showing the force is very strong with those light sabers. >>> did you hear that? check out these rowdy fans of the detroit tigers and cleveland indians games. in a let's go tigers cheer, that could not overcome the chant of detroi
to them now one last time. starting with salmon that bee in detroit, sam, any updates? i know things are pretty grim over there. >> oh, john t is worse than you could possibly imagine. >> right. >> a once proud american institution brought to its knees by gross mismanagement and incompetent leadership. you know, you wonder if it will ever again be the icon it was once. >> but sam, on the other hand, detroit is resilient, will will bounce back, shortly opinions detroit, no, i'm talking about the daily show. >> come on. >> it took decades to bring detroit to its knees but you destroyed the daily show in like three months. >> whoa, whoa, whoa. go a little easy. >> you're faster than ebola. what? >> i would say that i'm speaking truth to power but you have to power and whatever power you thought you had ends in about six minutes which is less time than it takes to make a hot pocket, but enough time i'm sure for you to [bleep] the show even further until it begs to be put out of its missery. >> thank you, samantha. let's go to jessica williams, jess, where exactly are you. >> i'm in front
attack on a flight that was going from amsterdam to detroit, and a president was vacationing in hawaii and it took him days to make an announcement about that? >> hang on. one at a time. listen, please, christie, we have to go one at a time, our audience wants to hear from both of you. let me go to the president today in phoenix, we repeated phony scandals, while we play this, think of four dead americans in benghazi, people that were targeted by the irs because of their political views, and ask you -- think of brian terry who lost his life. are these really phony scandals? here's the president again. >> unfortunately for the last year or so, we've had an endless parade of distractions and political posturing and phony scandals that shift focus away from what do we need to do to shore up middle class families and create ladders of opportunities for folks to get in the middle class. and as washington heads toward another budget debate, the stakes could not be higher. >> is that a phony scandal for those four people, five people, if you include brian terry? >> the majority of americans t
, share your thoughts with us on twitter @edshow and on facebook. >>> the ripple effect on how detroit's bankruptcy is affecting workers beyond city limits and some pennsylvania lawmakers are becoming law breakers in the name of marriage equality. i'll ask two state leaders if the move is enough to redefine marriage in the keystone state. lots more coming up on "the ed show." can get cash back. i'm here to help you get the most out of your cash rewards. it's personalized, and it's free. i want that. we have a concierge! at discover, we treat you like you'd treat you. get the it card with cashback concierge. plays a key role throughout our lives. one a day men's 50+ is a complete multivitamin designed for men's health concerns as we age. it has 7 antioxidants to support cell health. one a day men's 50+. it has 7 antioxidants to support cell health. i want you to know stuff i want you to be kind. i want you to be smart. super smart. i want one thing in a doctor. to speak my language. i don't want you to look at the chart before you say hi...david. quiero que me hagas sentir segura. i wan
. at&t mobile share for business. ♪ >> neil: detroit goes bust. michigan lawmakers needing to find ways to rev up cash. are unions pushing for a detroit bailout about to get their way? stewart, you argue that at least weapon it comes to pensioners they need help. >> absolutely. the city of detroit and the state of michigan made a commitment to workers years and years ago, that they would get a pension. many times they negotiated for higher pensions and less wages. and firefighters police officers need pensions like the rest of us do. the average negligence detroit -- average pension in detroit is $19,000. hardly lavish. the pensions and i would argue we have to save detroit. >> neil: a lot of cities in line. i'm not blaming unions. a lot of inept imaginer -- managers that let his happened but unfunded high schools that can't -- unopportunitied liabilities. you have a host of other u.s. cities in arrears, a number of states on the brink. where do you draw the line? >> the problem in detroit is similar to other stays and that's a conscious effort to deindustrialize america. these are prim
and houses and dogs running around. not that you guys know. michael, what will we do with detroit at this point? >> just let it die. it is like this idea of people saying we have to save this once great city. it is a dump. sorry people of detroit. it is like it has become communist romania. there are packs of wild dogs running around. and kwame killpatrcick is in jail. just let it die. >> there were swarms of dogs swimming in the basements of uh partsments. >> i am an animal lover. i care more about the dogs than most people a lot of times. what are we going to do? we should pull our money and go buy detroit. oh my god! we could get rich. >> could we buy something nice? why do we have to own detroit? >> that's the yn detroit is the way it is. there are a ton of casinos. >> nick, the postal service had to temporarily halt mail for fear of being bitten. it is a bad sign. >> it is the result of 40 years of liberal policies running that city. that's what happens. >> you have violent stuff on the street, dogs reading at a fourth grade level. >> that's actually impressive. >> that's pr
. but will the sentence ever be carried out? >>> and dogs running wild in detroit. the new problem facing america's largest bankrupt city. >>> and honey booboo's big day. [ male announcer ] this store knows how to handle a saturday crowd. ♪ [ male announcer ] the parking lot helps by letting us know who's coming. the carts keep everyone on the right track. the power tools introduce themselves. all the bits and bulbs keep themselves stocked. and the doors even handle the checkout so we can work on that thing that's stuck in the thing. [ female announcer ] today, cisco is connecting the internet of everything. so everyone goes home happy. like carpools... polly wants to know if we can pick her up. yeah, we can make room. yeah. [ male announcer ] ...office space. yes, we're loving this communal seating. it's great. [ male announcer ] the best thing to share? a data plan. at&t mobile share for business. one bucket of data for everyone on the plan, unlimited talk and text on smart phones. now, everyone's in the spirit of sharing. hey, can i borrow your boat this weekend? no. [ male announcer ] share
on "world news," we're just back from detroit tonight after sharing the road with some great american classics. and i couldn't help myself pointing out to everyone who was driving me. stay tuned for a wild ride, the choppers following our every move, our person of the week. a. new clean whipped creme foundation from covergirl. a delicious new recipe whipped up by clean makeup. they took their clean fresh foundation, added a dash of hydration, then whipped it to smooth matte perfection. finally, a non-drying whip that wears like a dream! ♪ ♪ what a treat from clean. new clean whipped creme from easy breezy beautiful covergirl. always go the extra mile.eme to treat my low testosterone, i did my research. my doctor and i went with axiron, the only underarm low t treatment. axiron can restore t levels to normal in about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as unexpected signs of puberty in c
that is detroit with fox kppv. and tea are it go to wounded reg mint.orgthe>> new information on the death of let are the at this time this is 16 years after the they was on killed a perness>> the rains came in and they rained hard and the storm was slow moving and wuchled a lot of rain in a sort of canned'd period. canned pagscoming up with the theory of relativity, the next... not so much. when we made our commitment to the gulf, bp had two big goals: help the gulf recover and learn from what happened so we could be a better, safer energy company. i can tell you - safety is at the heart of everything we do. we've added cutting-edge technology, like a new deepwater well cap and a state-of-the-art monitoring center, whe experts watch over all drilling activity twenty-four-seven. and we're sharing what we've learned, so we can all produce energy more safely. our commitment has never been stronger. the last thing i want is to feel like someone is giving me a sales pitch, especially when it comes to my investments. you want a broker you can trust. a lot of guys at the other firms seemed more focused
the fusion in u.s. for the first time at a plant near detroit. they hired 1400 new workers for the plant which will produce 15,000 vehicles a year. that's 30% more than in mexico. >> and nintendo cutting the price on the wii u game console to compete with the xbox one and playstation 4. that's in time for the holidays. back over to you. >> don't you love talking about the holidays in august. >> there we go. >> thank you, jackie. speaking of minimum wage, four strippers filed a class action lawsuit in colorado federal court. they claim that their employer, fantasy gentlemen's club in grand junction violated federal and state minimum wage laws. >> ladies just want to get paid. and a delta 4 heavy rocket was launched on wednesday. the classified payload is believed to be $1 billion high powered spy satellite. >>> starbucks is selling a limited crystal incrusted tenth anniversary mug. it's going for $150. >> a popular television commercial selling insurance was the inspiration behind this florida business that brought nomad the camel to work. what's the occasion? well, hump day of course. i
from terry. why are so few commentators outraged about the conservative destruction of detroit? that would be everybody. for the life of me, i don't know. i think a philosophy of how people do their job. this is just my philosophy. this is what i believe in. i don't think that you do a story and say, oh, well, we've covered that. let's get on to the next one. i've always been one who believes that you do a story and you get into the different facets of the story. and maybe others don't view it that way. where are the people? what's the back story? what's the ramifications? what's the money? where is the political push coming from? there are so many facets to the detroit story, stealing an election, cirqcumventing local elections. there is so much there. i don't know how i could do that story justice the way it is affecting p.eople's lives and hw conservative states are run and when conservatives get power. how do you do that in one show? i don't know. i can't speak for anyone else. but i made a commitment to stay on the detroit story because i think it is a model for destructio
said. now, this man is a cretant. i don't have much use for him. >> detroit is going bankrupt. obama said that he saved droid. he was running on that 50 years of democratic rule. the real cause of nbc is the parasites shall the conservatives are the real villains in detroit's bankruptcy. >> conservatives are using the most insulting language possible that they can come up with to blame unions, blame black people, blame their culture for detroit's troubles. the real parasites are their conservative ideals that are coming from state government and from the feds. your tax dollars went to save the financial sector in this country. will your tax dollars go to float a loan to the people and the workers of detroit to rebuild their communities? hell, no. big banks are the real parasites of detroit and the people are the victims in this. union busting is the real parasite. conservative policies which helped businesses out for years are now saying, nay, we don't want to fund public education. we are not going to go down the road of health care. we don't care what the workers do for all those y
to death. >>> and dogs running wild in detroit. the new problem facing america's largest bankrupt city. >>> and honey booboo's big day. [ male announcer ] this store knows how to handle a saturday crowd. ♪ [ male announcer ] the parking lot helps by letting us know who's coming. the carts keep everyone on the right track. the power tools introduce themselves. all the bits and bulbs keep themselves stocked. and the doors even handle the checkout so we can work on that thing that's stuck in the thing. [ female announcer ] today, cisco is connecting the internet of everything. so everyone goes home happy. >>> our second story outfront, the decision to go to war. president obama said tonight he has not yet determined whether or not to strike syria but he did lay out his justification for u.s. involvement. >> when you start talking about chemical weapons in a country that has the largest stock pile of chemical weapons in the world where over time their control over chemical weapons may erode, where they lied to terrorist organizations that have targeted the united states, then there is a
are incorrect. next up, true or false, the city of detroit is holding an important election tomorrow for the top leadership of that great american city. is that true or is that false? that is false. the city of detroit is holding an election tomorrow but it is pointless because there is no democracy in detroit anymore. the guy on the left of your screen here is dave bing who is the mayor of detroit elected by the people in 2009. he's not running again for the position and i think i know why. the guy on the right is kevin ohr, detroit's emergency manager, he was never elected to his position, he was put in place by michigan's governor. he makes 75% more than the governor makes. whatever he wants, detroit does because he is the emergency manager not the elected leader and emergency managers get to run that city now, not the people who get elected. so tomorrow we'll go through the motions, more than a than a doz will be running in a primary to become detroit's next powerless figurehead mayor who can't do anything. the top two finishers regardless of party will move on to the general election in nov
that route, you have more rid lin described. >> another big business. >> doc, before we go, a detroit area doctor, of course, detroit, charged with cheating the government out of tens of millions of dollars deliberately misdiagnosing patients with cancer and illegally billing them for treatment. >> oh, my god, if it's true, let me tell you something, it's a big business. oncologists prescribe their own chemotherapy, making loot, medicare is cracking down on that, no longer going to be available to do that. this guy apparently, the clinics made $35 million in two years, 24 until many medication. one guy fell, hit the head, and told you have to have chemo before going to the hospital. the parties didn't even have cancer. if this is true, it's a real black mark on the medical profession. >> a guy like this, through him under the prison. no parole, nothing. this is just -- i mean, -- >> disgusting. absolutely. >> great foppics, appreciate it, thanks. record number of americans on food stamps. you knew that. what are your taxpayer dollars paying for? try sushi, lobster for this guy. >> wake up,
preseason opener against detroit lions on friday. so sanchez takes a high road after getting this very rude tweet which reads f-you, hope you tear your acl on friday. my goodness. what people say on twitter really just shocks me. sanchez responded with a tweet saying, thanks for your support, man, #classy. >>> to pittsburgh now, a very special night for andrew mccutchen. not only did his mother sing the national anthem, yes, he got his 16th home run of the season. >> did it more mom. >> he did. >> you know it, momma looked very proud. >> great. >>> now to big plays in the little league. jacob garza and his corpus christi team won a spot on the little league world series. garza was pitch perfect and did not give up a hit during the game. then get this, mara, he hit a home run that gave his corpus christi texas team a 6-0 lead over new mexico. >> kid's on fire. >> glaugs to them. >> and gangem style danceoff that went intergalactic -- they're still doing it. they're still having star wars night. fans dress as darth vader and storm troopers showing the force is strong with the wielding light s
time. pension funds and officials from detroit are in the midst of a dispute. kevin orr, the city's emergency financial manager met with pension funds yesterday to determine the pension shortfall.orr says pensions are underfunded by about three and a half billion dollars. while those funds estimate the shortfall is less, about 600 million dollars. a detroit reporter tells us...the meeting was likely the first of many. "this is an ongoing dispute and i don't expect that the differences between the emergency manager's numbers and the pension fund's numbers are going to be resolved that lasts a few hours. my suspicion and again this is just a suspicion is that this will be the first of several kinds of these meetings that will take place here in the coming days and weeks." that was kirk pin-ho, of crain's detroit business. the deadline to file challenges to detroit's bankruptcy elligability was last night. pinho says the next battle coming down the pipeline: pension funds that filed challenges under grounds that pensions are protected under the constitution, and therefore detroit was
. >> other playoff baseball the tampa bay rays lost to the angels. oakland beat detroit. braves won again and the pirates lost to the brewers. >> come on pirates. >> went 3 for 4, two rbis in my softball game. >> you laid down a couple doubles? >> i hit a couple, no one. >> did they bring out the respirator? >>> let's go to the u.s. open. 296th ranked victoria duval stunned samantha stoeser. it is her first win against a top 20 opponent. her family comes from haiti. her father was actually buried in the rubble in the earthquake three years ago and had to be dug out of the rubble. >> that's an incredible story. >>> more drama from the new york jets camp. the team signed former green bay packers quarterback. he was released after losing out to vince young in green bay for the number two spot. harrell expected to report with the team today. another quarterback joins on the jets roster. rex says he may not make anyone a starter until opening day, day of the game. bring in more quarterbacks. >>> still ahead on "morning joe" governor rick snyder joins us ahead of tomorrow's special show in detr
, 12,500:1. i hope you made money today. it. thank you for watching. appreciated. >> detroit is now the largest u.s. city to file for bankruptcy it cannot match it -- manages self. >> were at the end of the road. we can borrow any more money. john: detroit was -- now in such a wreck. >> for $1,500 you could buy this house. john: for years politicians promised that they would fix detroit. >> detroit show again become the great city that is its destiny. john: instead. >> they turned city hall into a den of bribes and kickbacks making themselves rich. john: is there hope for places like detroit? >> it will turn around the city of detit. >> the motor city. this is will w
through her can tame you'd work in her home cap -- continued work in her hometown of detroit. >> i feel so sorry for people not living in detroit. detroit gives a sense of civilization in a way you do not get in a city like new york. obvious what was does not work. striving forways giant, and this is how giants fall. to have youhonored on this program. i am glad you are here. >> i am glad to be here. >> let me ask you what it is about detroit that makes you hopeful. aboute you so optimistic detroit's future? was a picture of the packard motor company. it is now 38 years
. >>> shocking new statistics on drinking and walking. >>> detroit voters go to the polls. >>> and will the amazon entrepreneur change the face of journalism? "early today" back in two. >> announcer: brought to you by the makers of centrum men and women. have you taken the most complete multivitamin today? >>> welcome back. the trial of major nadal hassan is set to begin. it's been nearly four years since the ft. hood military base shooting. 13 people were killed and over 30 wounded in 2009. many of the wounded taking the stand will have to go face to face with hassan. he's opted to represent himself in that trial. >>> an amber alert was put out for two children. the children's mother was found in a burned out house. the identity and manner of death remain undetermined. hannah anderson, 16 and ethan anderson age 8 are believed to have been taken by this man. he was last seen driving blue four-door nissan. >>> a 1500-acre brush fire is roaring through cleveland national forest in california. >>> chevron usa has been convicted of labor code violations in connection with a 20
more citi go bust like detroit, is it time to take on pensions like the private sector is doing right now. >>> but fit, stop the presses, the billionaire founder of amazon is buying a big newspaper. why another billionaire venturew >>> guys, we've got to fix things up, we're losing money fast. what is the difference between selling those guys and journalist guys? >> the journalist guys thing they're doing journalist work. that's a different standard than where everybody is economically tied together. they don't -- >> did they think -- >> did you think they were stupid, arrogant? >> oh, arrogant is a much better word. the difference between, say, newspaper people and academics is very small. and they all run in the same scenario of thinking that they're doing things very educated, done very well academically. >> how many business courses? >> not too many. i don't know of any. because based on my experience, they had a lot of trouble adding and subjecting. >> not a happy newspaper owner. giving -- well, sam zell with a major warning for jeff bezos who bought "washington post" for $250,0
cities go bust like detroit, it time to take on pensions like the private sector is doing right now. >>> but first, stop the presses, the billionaire founder of amazon is buying a big newspaper. why another billionaire ventured my mother made the best toffee in the world. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. never really thought i would make money doing what i love. [ robert ] we created legalzoom to help people start eir business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. >>> gu, we've got to fix things up, we're losing money fast. what is the difference between selling those guys and journalist guys? >> the journalist guys thing they're doing journalist work. that's a different standard than where everybody is economically tied together. they don't -- >> did they think -- >> did you think they were stupid, arrogant? >> oh, arrogant is a much better wo
for tonight or ever. >> another candidate john liu is posing that new york legalize marijuana. in detroit billboards paid by the city urged citizens to vote on september 2nd. but voting day is actually in october. candidates with more twitter mentions than their opponent won 404 of the 406 elections. it didn't matter if the twitter mentions were positive or negative. >>> actress jennifer garner seems optimistic about her husband ben affleck's future in politics. she tells "people" magazine that she wouldn't be surprise to see him go into politics. >>> first lady michelle obama is releasing a rap cd. michelle obama unfortunately does not sing on the album. that's your morning's dish of scrambled politics. >>> for the weather i'm joined by bill karins. >>> this morning, hope windows are open in many areas of the country. the 24-hour temperature change has made its way to the east coast. columbus is 16 degrees cooler than this time yesterday. d.c. is about 13 degrees cooler. it's 51 degrees right now in detroit, i mean, that's cool, that's jacket weather. same for buffalo and columbus, that
not to care, you know, detroit is bankrupt today. detroit is also bankrupted after decades of socialism. decades of social welfare state. detroit is the future of every american city. when i was a child growing up, american cities were a great treasure. today, an american cities are a wasteland. they are a wasteland because of welfare. they are a wasteland because of broken families. the tragedy that's going on in our into cities and around the country, which will spread to the suburbs where children are not raised correctly, don't have an education of don't see future, you know, where the family is broken from the beginning. these tragedies come someone has to stand up and say, this is the lie that began in the new deal. this is the lie of government dependence. don't be satisfied, as young people, to be told you are not needed. don't be satisfied to be told that somebody in china, or anywhere else, can do your jobs better than you can do them. but fight for this. and if you listen to the lie, even, socialism always comes on to help you. and then in the and it imprisoned you. obama is
, the as working in detroit. and the giants going head to head in colorado. highlights of both games, plus, colin kaepernick on the cover of sports illustrated. >> and a historic day as the bay bridge shuts down five days. this is the video of the last car to cross the 76-year-old bridge. crews already working tonight to transition the old roadway to the new eastern span. stay with us. kron 4 news at 11:00 continues after the break. >> new at 11:00, kron 4's stanley roberts tells us about the exodus of people leaving the bay bridge for the last time in this edition of people behaving badly. >> reporter: if you want to see people behaving badly, i suggest announcing that you are going to close a bridge for five days. oh wait, they did. pay no attention to this driver. he is from texas. that must be how they do things. that is how we do it here too. moving on. the bay bridge is closed so we will get a slightly better bridge that will last 150 years, or whichever comes first. hey dude, the bridge is the other way. there you go. some people thought it was safe to stay across in the car pool lane. it
time at a plant near detroit. ford hired 1400 new workers for the plant which will produce 350,000 vehicles per year, 30% more than at its factory in mexico. >>> and finally, nintendo cutting the price on the wii-u game console to compete better with the new xbox 1 and playstation 4. nintendo is launching a new lower priced hand-held device. the 2d is in time for holidays. >>> speaking of minimum wage, four strippers have filed a class action lawsuit in colorado federal court. they claim their employer fantasy gentleman's club in grand junction had violated federal and state minimum wage laws. a 23-story tall delta 4 heavy rocket was launched on wednesday from california's vandenberg air force base. the classified payload is expected to be a billion-dollar spy satellite. >>> starbucks is selling a swarovski encrusted mug. >>> and a popular television commercial selling insurance was the inspiration behind this in florida for this business. they actually brought no man the camel to work. the occasion? hump day! well, we know that was yesterday, wednesday. today is thursday. but
plan until later this year. >> workers in new york and detroit have walked off the job and workers also in if chicago. we have one woman's struggle to get by. >> reporter: the squeeze of living paycheck to paycheck is all too real for nancy and her two kids coming home to a camped one bedroom apartment. >> we leap here. >> there is no room in her budget for more space, and staying ahead of the bills is impossible. for ten years she has worked at mcdonald's never making more than minimum wage which here in illinois is $825 an hour. >> i get last notice where i'm going get disconnected and i have to pay a portion of it so i have to come up with the money. he's living conditions are why why salgado and others have sustaining a stand for higher wages and respect on the job. the movement has asked for it to be moved up to $15. >> if these people earned $15 they could give back to the economy and they wouldn't have to depender on the government for food stamps. >> reporter: a substantially higher minimum wage may not be a win fall. at $15, they may be much more selective about who they hire.
if memphis and detroit. >>> back to the news now. a detroit area doctor accused of forcing potential chance e treatments on patients who didn't need them. >> the fbi says the doctor was in it for the money, not to help heal the sick. here's abc's linzie janis. >> reporter: dr. farid fata is behind bars for the unthinkable, mistrea mistreating patients to bilk medicare out of millions of dollars. he fabricated diagnosis in order to perform expensive tests. relatives of his alleged victims are speaking out. jeff says when his father didn't respond to chemotherapy, the doctor refused to discontinue the drugs. >> they were giving my father transfusions in the parking barrage area. what kind of treatment is that. >> the government had not retained an expert to give an opinion. >> reporter: others suspected something was wrong as far back as 2010. >> things were being administ administered and used incorrectly. >> reporter: cancer nurse angela swantek said she complained. >> to know that a doctor could have potentially brought your death on sooner is sickening. >> reporter: a year later, the licens
a good day for flying weather. airport delays expected only if memphis and detroit. >>> back to the news now. a detroit area doctor accused of forcing potential chance e treatments on patients who didn't need them. >> the fbi says the doctor was in it for the money, not to help heal the sick. here's abc's linzie janis. >> reporter: dr. farid fata is behind bars for the unthinkable, mistrea mistreating patients to bilk medicare out of millions of dollars. he fabricated diagnosis in order to perform expensive tests. relatives of his alleged victims are speaking out. jeff says when his father didn't respond to chemotherapy, the doctor refused to discontinue the drugs. >> they were giving my father transfusions in the parking barrage area. what kind of treatment is that. >> the government had not retained an expert to give an opinion. >> reporter: others suspected something was wrong as far back as 2010. >> things were being administ administered and used incorrectly. >> reporter: cancer nurse angela swantek said she complained. >> to know that a doctor could have potentially brought your de
on to detroit. the city is bankrupt, and finances are in the hands of a manager, but even so voters will turn out for a primary to choose a new mayor. what power would the new mayor wield and who wants that job anyway? >> some really good people want the job. it's quite remarkable. a former sheriff. a form prosecuting attorney. a number of state legislators. really quite -- quite an impressive field considering the reality of the circumstance, which is that governor rick snyder, a conservative republican governor has used a law that he wrote, governor snyder, that the people of michigan rejected in a referendum, that the people of detroit rejected by a 4-1 margin. he has rewritten the law and imposed it. it allows him to take control of the city of detroit's governance and basically steer it whatever direction he wants. most of the candidates for mayor think steering it towards bankruptcy is a bad idea. but in reality they are running for an office where they will basically be spectators to the governance of their city. that's a tragic circumstance. it is anti-democratic at the most extreme.
at detroit. it is essentially bankrupt. that was really the hub of american manufacturing. does that show, what they did, we can talk about policy issues, what make as good or a bad manufacturing environment. is the fact that detroit is doing poorly any reflection on manufacturing at all in the u.s.? >> the story has changed. we tell the history of manufacturing when it was. 50% of the world's manufacturing base. what is the story of manufacturing today? what is going on with companies trying to compete in a global economy? we don't shy away from that in the movie. we tell the companies, small companies, large companies, competing, making things here still today. the truth it has changed. david: vince i look at two cities. i look at detroit. detroit has highest tax rate and regulations than any other city in michigan, any other citizen. it has the worst public services. what it tells me more government is not the solution to this. you have to get government out of the way, and lower taxes. they hired bad mayors a lot of whom are in jail. they raised taxes and regulations. is there a messa
, a bipartisan group of senators spoke in opposition to the measure. >> a once great city, detroit, lies in ruins. 50,000-barrel dogs from the city , abandoned houses ledger the landscape. it is a bleak and for large future that awaits detroit. creditors clamor for nearly $20 billion in debt. city employees wonder if there will be paid. there is not enough money to even replace the street lights and the trick. god forbid a major fire break out. at some level i think the president does care about detroit, but today all i can see is the billions of dollars, the billions of american tax dollars that he chooses to send overseas i see that shiny new technology, america's best going to harm people who are indifferent to us and at worst take us. the president sends billions of dollars to egypt in the form of advanced fighter planes and tanks. meanwhile, detroit's crumbles. chicago is a war zone. more people die in chicago this year than in afghanistan. if the president insists on building a $34 million board in afghanistan, hillary clinton insists on spending $80 million on a consulate in afghanistan th
, in washington, d.c., in st. louis, in kansas city, in detroit, in flint, michigan, and other areas around this -- fast food workers. they were people who work in burger king, mcdonald's, popeye, they are the ones who give you the hamburgers and the french fries. what they are saying is workers all over this country, they cannot make it on $7.25 an hour, $7.50 an hour. often they are unable to get 40 hours of work and in most cases they get no or very limited benefits. all over the country, these workers, often young people, are walking out of their establishments, their fast-food places and are educating the consumers about the economic injustice taking place in these fast-food establishments. what they are saying is we need to raise the minimum wage in this country, that american workers cannot exist on $7.25 an hour which is the national minimum wage now or $8 an hour or $9 an hour. my own view is that the very least we should be raising the minimum wage to $10 an hour. just do the arithmetic. if somebody is making $7.25 an hour and if they are lucky enough to be getting 40 hours a week
that in a minute. talking about votes, though, today is the primary day in detroit. and your workers and members are under particular assault in this emergency management, and now bankruptcy in detroit. and detroit is being used as a symbol of attack by the right wing. let me show you -- let you hear rush limbaugh in an attack he has been making when he was talking to fox news about detroit last week. >> that town has been a petrie dish of everything the democratic party stands for. everything the democratic party loves. massive unions, massive pensions, pay people pensions and health care long after they've stopped working. the math doesn't add up. you have massive welfare states where citizens are given things left and right in order to buy their votes. >> limbaugh on the right going right after the people's pensions, right after workers rights. it is a real wall with working class people in detroit. >> it is. and i think that rush needs to be educated on the right of issues. let's deal with the fax. first of all, nobody is arguing about the fact that detroit is experiencing severe economic cr
with autoworkers about how easy they'd had it finding work. i read a story in the "detroit free press" about a young guy who was pumping gas in flint, and a driver took down his name and number, and a week later he got a call telling him to report for work. gm had a couple nicknames, one was the general, and the other was generous motors because at that point, this was in the early '70s. at that point the workers had a deal where they could work for 30 years and retire on full benefits no matter what age they were, and they had health care for the rest of their lives. that's over, too, which we'll get to later. this was like employment porn. i have one anecdote in the book about one of my high school friends who came home from the army and started getting a hard time from the his dad because he didn't have a job. so my friend larry had to tell his dad kids these days don't have it as easy as you did dad. and larry said i think you have to know if everyone had the same opportunity you did to just walk into a personnel office, fill out a piece of paper, get a job the same day, we'd all be ther
points. and the s and p 500 lost five points. >> creditors face deadline in detroit bankruptcy case banks, bond insurers, employee pension systems and others who believe they are owed money by detroit are up against the clock to legally voice opposition to the largest municipal bankruptcy filing in u.s. history. a federal judge set monday as the eligibility objection deadline in the bankruptcy petition by detroit's state-appointed emergency manager kevin orr. it's one step in a process that could take months or years to complete if detroit is approved for bankruptcy protection. the city has until sept. 6 to file its responses. orr listed thousands of creditors, including individuals, in his july 18 bankruptcy petition. he's said detroit is insolvent and unable to pay some of its bills, including at least $18 billion in long-term debt. or stopped payment on $2.5 billion in debt in june. >> jpmorgan investigated for china hiring the u.s. government is looking into whether jpmorgan chase hired the children of chinese officials to help it boost its business in china, according to the new york
a lawsuit in court. that is my guess. charles: take it away. not happy with the detroit bankruptcy filing. they need to speak up today or hold their peace. holding back financial aid to egypt. do we need to cut off all of the money going to that country? a raspberry instead of blackberry. the movie about steve jobs came in second at the box office over the weekend. listen to this. some wood off to lease themselves rather than till death do us part. ♪ connell: off to a good start. raspberry instead of apple. we have to rush to the news here. dagen: eckerd over the weekend. we have it all covered. connell: first the markets. last week was a rough week for stock markets. >> the dow was down 2.1% last week. the worst week for the dow and more than a year. they spoke in apple shares. it is kind of casting over the market a little bit. retail continues a little bit. they reported their numbers for the quarter. very convenient that dollar general got an upgrade today. that stock is up. dagen: deadline day today in detroit. connell: let's bring in jason riley. they are saying is detroit really
troubles have left a very heavy mark on detroit. homes left abandoned to the elements, entire neighborhoods wiped out. but it's not just people who are down and out in the city. [ tires screech ] [ beeping ] ♪ [ male announcer ] we don't just certify our pre-owned vehicles. we inspect, analyze and recondition each one, until it's nothing short of a genuine certified pre-owned... mercedes-benz for the next new owner. ♪ hurry in to your authorized mercedes-benz dealer for 1.99% financing during our certified pre-owned sales event through september 3rd. then you'll love lactose-free lactaid® it's 100% real milk that's easy to digest so you can fully enjoy the dairy you love. lactaid®. for 25 years, easy to digest. easy to love. at humana, our medicare agents sit down with you and ask. being active. and being with this guy. [ male announcer ] getting to know you is how we help you choose the humana medicare plan that works best for you. mi familia. ♪ [ male announcer ] we want to help you achieve your best health, so you can keep doing the things that are important to you. taking care o
points lower than june. detroit emergency manager apologizing after calling some of the city residents those names. and the nfl hit with another concussion lawsuit. 83 former players led by pro-bowlers. they say they are suffering long-term effects from brain injuries sustained during their playing days. and we're watching the market this hour of "markets now." ♪ connell: those headlines show you there is a lot going on-9 today. we will get to the mess in egypt in just a moment, but first, our market today with the selloff, seeing the biggest decline in a couple of months. nicole petallides starts us off on the floor of the new york stock exchange. nicole: you are absolutely right. the lowest point, the biggest move to the downside since june 20. down about 1.5% right now. back on june 20 the dow dropped over 2%, this is the biggest moving percentage terms since that time. you have a couple of names that are weighing on the do dow jones industrial, better-than-expected economic news. walmart and kohls are two names we are following closely. as well as cisco systems. walmart higher p
would tell them to shut up. >> dna tests. >>> and shocking numbers out of detroit. >> 50,000 dogs run loose in the city. people move out, they leave their dogs behind. when it gets cold, they turn them loose. >> packs of stray dogs roaming the streets. the city too strapped to do anything. one neighborhood now called chihuahuaville. that's all new with the next hour of cnn "newsroom." >>> a college basketball player who already lost two family members now learns the ncaa won't let him on the court this season. we have the "bleacher report." good morning. >> he lost his father and brother in the last year so he decided to transfer from iowa state to rutgers to be closer to home but the ncaa says he has to sit out this season if he wants to play for the scarlet knights. another case of the wording of the rule getting in the way of doing what's right. you can get a hardship rule to play right away if you have a sick family member, but if a family member dies you're out of luck. he said i'll make the wise decision of staying off social networks today because if i express my feeling i migh
exactly that. bill: will detroit now have the biggest yard sale we've seen in american history? why bankrupt detroit is now assessing its own art treasures to raise money. what in the world will come next? >> nothing's being proposed for sale and nothing is being sold. we need to know how much it is work. >> selling the dia would be like detroit announcing it is giving up. so then the little tiny chipmunks go all the way up... ♪ [ female announcer ] when your swapportunity comes, take it. ♪ what? what? what? [ female announcer ] yoplait. it is so good. bill: flights will resume later today after east africa's largest airport was engulfed in flames. the fire tearing through the arrival section in nairobi, kenya. all flights had to be rereported. took firefighters four hours to put the fire out t was 15 years ago today the embassies in nairobi and tanzania were bombed. investigators say there was no signs after terror attack at the airport in nairobi today. 25 minutes after the hour. heather: a daredevil pulls off an amazing stunt in the skies over illinois. take a look. this is h
of detroit could be getting much needed financing. the emergency manager for the bankrupt city issued requests for propels totaling $350 million in loans, so-called debt tore in possession financing. most of the money would be used to pay merrill lynch to end a complicated swaps deal related to bonds it once issueed to finance pensions for retired city workers. it's very complicated. the rest will pay bills to keep the city services operating. >>> a lot of detroit area workers getting a shot in the arm today. ford began making the top-selling fusion sedan in the u.s. for the first time ever. it's 1,400 new jobs to a plant in michigan just outside the motor city. the ceo moved production there from a factory in mexico saying the new plant will turn out more carps and help the company meet rising demand. >> well, we don't have a lot of capacity left but pretty much sized to what will be longer term. we think right now the u.s. will come in around 16 million units, maybe 17 but the pin up demand because the average age of vehicles is nearly 11 years old. we have room on the second and t
. i have a two-part question for you. the first part is we know this as with the, detroit going bust or so the first part of the question is, what cities are having the renaissance you are talking about? and whitey think that this? been what cities are not? >> guest: the cities, our city story is a tale of two cities. the detroit story is sort of separate. one of the things that's lost in the discussion about detroit and our cities is city economy and fiscal health oftentimes do different things. look at new york city. new york is thriving by any definition but if you look at neighborhoods like the meatpacking district. and 70 and and 80 you wouldn't be caught dead there now. it's a casting call. it's like the place to be. that never would've happened before. sunnier kids kind of like an amusement park in many ways now where it used to be, the economist and very well. new york has fiscal problems, too. many of the same problems that detroit has. so those are two kind of different things. detroit is some of the rust belt cities are still adjusting to a massive shift in the coming from
. >> how would you inspire and motivate and give opportunity to these inner cities, especially like detroit, where people simply don't have skills, they don't have opportunity. their schools are falling apart and sort of a growing, growing, growing. it's not getting better. how would you change that? >> probably, look, this is not a new problem. it's been going on for many, many decades in this country. we have cities that have been bad for years and years and they've done tax incentives, work programs and all sorts of things. nothing seems to happen. detroit is a very good example. i mean, detroit is a disaster area, there's no question about it. what happens, we'll have to see. perhaps you do the tax savings, perhaps you do tremendous incentives to businesses going into detroit and you instead of paying a big tax, which of course we're one of the most heavily taxed countries in the world, you don't pay tax. you pay very small taxes. you do something to get detroit and other cities like it. detroit is emblematic. you have many, many cities. i could name them but i don't want to embarrass p
stepping in to help reorganize detroit? i think it's a hell of an idea. i think they ought to do it. we saved the automobile with a loan the same thing can be done with the city of detroit. i do not like what's happening in detroit as far as all the privatization and the gutting of peep's jobs and public services. i mean, basically what has happened in detroit is that a local election has been said, you know, you really don't count. we're going to put in an emergency manager and forget it. it's over. is that america? i don't think so. i think the federal government should write a check to detroit. i think the federal government should do those kinds of things to all municipalities having trouble. why not? it's in our country. and it can get paid back. i believe in workers, i believe that detroit can turn it around. our next question is from anita. why are the gop -- why is the gop talking impeachment when president obama has done nothing wrong because they have nothing else. and they do believe they can ginn up enough fear and enough enthusiasm to get people to believe this is something
, that will be the best one. that will be a fascinating interview. >>> detroit ace bankruptcy just last month made it the largest u.s. city to go bust but that will look like nothing if chicago goes under as well? really? so could the the windy city be e next detroit? jeff flock tells us why investors should be concerned. ♪ [ lighter flicking ] [ male announcer ] you've reached the age whe giving up isn't who you are. ♪ this is the age of knowing how to make things happen. so, why let erectile dysfunction get in your way? talk to your doctor about viagra. 20 million men already have. ask your doctor if your heart is healthy enough for sex. do not take viagra if you take nitrates for chest pain; it may cause an unsafe drop in blood pressure. side effects include headache, flushing, upset stomach, and abnormal vision. to avoid long-term injury, seek immediate medical help for an erection lasting more than four hours. stop taking viagra and call your doctor right away if you experience a sudden decrease or loss in vision or hearing. this is the age of taking action. viagra. talk to your doctor. l
may be bad for this man, michael dell. cheryl: plus, is new york city headed the same way as detroit? we're going to dig into the rising concerns over the big apple's fiscal health. david: we want to hear from you as well about today's action, do you believe today's market slide will cause the fed to delay its tapering? they're so concerned about market action these days. is that what's driving the fed? your answers, log on to facebook.com/afterthebell, let us know what you think. ♪ ♪ [ male announcer] surprise -- you're having triplets. [ babies crying ] surprise -- your house was built on an ancient burial ground. [ ghosts moaning ] surprise -- your car needs a new transmission. [ coyote howls ] how about no more surprises? now you can get all the onli trading tools you need without any surprise fees. ♪ it's not rocket science. it's just common sense. from td ameritrade. it's just common sense. we replaced people with a machine.r, what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't leyou talk to a real person 24/7, you need an ally. hell
with the gruff stuff include oakland, new haven, detroit, atlantic city and l.a. hmm. meanwhile, the friendliest city in america is all of the south. actually five of the top 10 are southern including charleston in savannah. fun fact, i have never been to charleston, especially in the late 1990s when all of the male escorts went missing. can't emphasize that one enough. anyway, speaking of rude. >> oh, and animals are mean to other animals and it makes humans look a little nicer. >> that cat suffocated. >> suffocated with hilarity. >> but then dies. >> yes, dies -- >> you can't prove that. >> it died of laughter, ambassador. i have an issue with this friendly versus unfriendly thing. and i was hoping you could give me a nonnonsense cal answer and you don't just babble. they are saying friendly, not friendly. isn't this code for something else? >> it is code for this is a sham because they are jerks everywhere. >> you are missing my point. >> my question is don't they mean something else when you look at the list? >> it means that this is a travel survey and the city is probably, and i don't know
, the vast example currently is what is happening in detroit. detroit is the city with the largest african-american homeownership rate in the country going into the crisis. now undergoing the largest municipal bankruptcy in u.s. history, 100,000 homes were foreclosed on. one-third of all african-american homeowners had been forced out of their homes since this crisis began. so what we're seeing is a mass displacement. we're also seeing these foreclosures spiral that are reverberating into other issues. things like school closures that we're seeing in chicago and philadelphia. things like hospitals, senior centers effected. >> michael: there are people who fought the banks and people who won. tell us about bertha garrett in detroit, the city we were just talking about. >> sure, i would be happy to. bertha garrett, when i went to meet with her a year ago was a 65-year-old grandmother, deeply religion, born in alabama. she and her husband had lived in their home in detroit for 22 years. she became ensnared in a predatory loan when a sleazy mortgage company lied to her and convinced her to tak
be the next detroit. coming up next, what he says could put the city on a path to bankruptcy. and her husband made the ultimate sacrifice. why the wife of an arizona firefighter killed in the line of duty is fighting for benefits. any last requests mr. baldwin? do you mind grabbing my phone and opening the capital one purchase eraser? i need to redeem some venture miles before my demise. okay. it's easy to erase any recent travel expense i want. just pick that flight right there. mmm hmmm. give it a few taps, and...it's taken care of. this is pretty easy, and i see it works on hotels too. you bet. now if you like that, press the red button on top. ♪ how did he not see that coming? what's in your wallet? ♪ the middle of this special moment and i need to run off to the bathroom. ♪ i'm fed up with always having to put my bladder's needs ahead of my daughter. ♪ so today, i'm finally talking to my doctor about overactive bladder symptoms. [ female announcer ] know that gotta go feeling? ask your doctor about prescription toviaz. one toviaz pill a day significantly reduces sudden urges and
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detroit going bankrupt, mustafmustafa. what kind of effect do you think detroit going bankrupt will have on the industry? >> very little. detroit as a city is quite separate, you know, from the auto industry itself. all three of the detroit-based companies are global companies and, you know, much of our sales are obviously outside detroit in the states and around the world. so the direct impact on the industry will be quite, you know, minimal, but the people that work for gm live in detroit and obviously that's an area of concern for us, but, you know, from the perspective of auto sales and the performance of the industry and its employment, you'll not see much of the impact if any. >> we'll leave it there. thank you so much. we'll see you soon. >>> coming up next, what does the earnings report mean for ben bernanke. former fed governor randall kroszner will give us his take. >>> then he was once the richest man. iky batista has lost some $33 billion in 16 months. we'll find out what happened. >>> then millions of time warner customers are less than an hour away from losing all cbs progr
like detroit or even something bigger like the credible growing class of poor people? >> well, what you want to do first? >> either. take your pick. >> okay. detroit, the first thing i would do is analyze what really happened there. why did it go wrong? there's some obvious things. the city had been run by democrats unchecked since i think the last republican mayor was 1957. okay? you've had -- that town has been a petry dish of everything the democrat party stands for. everything the democratic party loves. massive unions, massive pensions, pay people pensions and health care long after they've stopped working. the math doesn't add up. you have massive welfare states where citizens are given things left and right in order to buy their votes. you have no opposition whatsoever. then in the case of detroit, you throw race into the mix, and you bring on mayor coleman young who causes riots in 1967 detroit and mayor young caused a white flight to sub suburb-ia and detroit is left with nothing but liberal democrats running it. it is what it is. any place in this country that has similar circ
, of course, his appeal. the biggest names on the list of 12, as you call it, jhonny peralta of the detroit tigers, that's big. the starting shortstop for the tigers. and, by the way, they are leading the a.l. central leader. nelson cruz, all-star player for the texas rangers. but everybody trumped by alex rodriguez, highest paid player in major league baseball, suspended for all of this year and next year. still owed $86 million by the yankees in the remainder of his contract, and what makes this story have a little more sizzle on this day, is the yankees are playing in chicago this evening. a. rod is expected to take the field for the yankees unless we hear otherwise this evening in chicago. we'll have more on this story for the remainder -- throughout the remainder of this program and the "closing bell" at 4:00. but let's get back to our discussion with the market guests, as we focus on this monday in august on wall street. again, josh brown was with us, as is rick santelli, kyle harrington, and anton bear from up capital. anton, to you, what do you make of where we are in the market? wh
for you. the first part is we notice as we speak detroit is going bust now. the first part of the question is what cities are having a renaissance you are talking about and why do you think that is and what cities are not? >> guest: our city stories the tale of two cities. the detroit story is sort of separate. one of the things that is lost in the discussion about detroit and our cities is the city's economy and fiscal health are oftentimes two different things. if you look at new york city new york is thriving by any definition. if you look at neighborhoods like the meatpacking district. in the 70's or 80s he wouldn't be caught dead there now looks like a casting call for the bachelorette. there are so many 20 somethings on the weekend that it's the place to be. new york is like an amusement park in many ways were the economy is doing very well. new york has fiscal problems too. many of the problems that detroit has. detroit, some of the rust belt cities are still adjusting to a massive shift in the economy from an industrial-based economy and a number of other things are happening there
-part question for you. the first part is, we notice as we speak, detroit's going bust. so, the first part of the question is, what cities are having the problems you're talking about and why do you think that is and then what cities are not? >> guest: our city story is a tail of -- tale of two cities and the detroit story is separate. one thing that is lost in the discussion about detroit and our cities is that cities' economies and fiscal health are often times two different things. you look at new york city. new york is thriving by any definition. you look at neighborhoods like the meat packing district, in the '70s and '8ss you wouldn't be caught dead there now it's so many 20 somethings on the weekend, the place to be, and that would have never happened before. so new york is like an amusement park. the economy is doing very well. but new york has fiscal problems, too. many of the same fiscal pension problems that detroit has. so those are two different things. detroit is some of the rust belt cities are adjusting to as massive shift from an industrial economy to service economy. othe
in the detroit bankruptcy story. we have that and other headlines of the day just ahead on "the kudlow report." please stay with us. [ female announcer ] what if the next big thing, isn't a thing at all? it's lots of things. all waking up. connecting to the global phenomenon we call the internet of everything. ♪ it's going to be amazing. and exciting. and maybe, most remarkably, not that far away. we're going to wake the world up. and watch, with eyes wide, as it gets to work. cisco. tomorrow starts here. (announcer) at scottrade, our clto make their money do more.re (ann) to help me plan my next move, i take scottrade's free, in-branch seminars... plus, their live webinars. i use daily market commentary to improve my strategy. and my local scottrade office guides my learning every step of the way. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade... ranked "highest in customer loyalty for brokerage and investment companies." and then another. and another. and if you do it. and your friends do it. and their friends do it... soon we'll
. appreciated. >> detroit is now the largest u.s. city to file for bankruptcy it cannot match it -- manages self. >> were at the end of the road. we can borrow any more money. john: detroit was -- now in such a wreck. >> for $1,500 you could buy this house. john: for years politicians promised that they would fix detroit. >> detroit show again become the great city that is its destiny. john: instead. >> they turned city hall into a den of bribes and kickbacks making themselves rich. john: is there hope for places like detroit? >> it will turn around the city of detroit. >> the motor city. this is will we
hits in mid-air. now what is happening, he's in detroit in training camp doing really well. he hit 11 of 11 so far in scrimmages. they are looking at him very closely. >> i have to ask a stupid question. the distance he's kicking, 50 yards how does that compare to an nfl kicker? >> he hit 60-yarders. >> is that good? >> almost every nfl kicker can make it from the 50s. it's how consistently. >> six 50s. he hit -- the current detroit punter has hid a 63 last year. so that's the question whether the existing punter can actually do better. >> we'll see how he goes. >> but he's doing well. >> good for him. >> this is clearly a panda bear story. >> this is about as deep as i can get and intense. >> let see what it looks like to be a polar bear. >> a polar bear not a panda bear. >> they put a pro camera on him. >> i want to know how who is brave enough to strap a camera on the polar bear. >> the whole point is they want to test this. eventually they want to put this on a real polar bear in the wild so they can study the habitat. >> got to run. "way too early" starts right now. >>> our natio
on all of that will set coming up. >> it is moving quickly in detroit's bankruptcy case. a judge is holding a hearing to set an aggressive timeframe for hearings and deadlines. a key issue is whether the city is eligible for qualify for bankruptcy protection. the judge said any objections have to be filed by two weeks from monday with a hearing on the issue in october. detroit's troubles are because of corruption, financial mismanagement, the auto industry collapse, and the dramatically shrunking tax base as people move out. the city has long term debt of $18 billion. >> a southern california woman is recovering this morning after a frightening shark attack in hawaii. retired schoolteacher was snorkeling on maui on wednesday and 30' from shore in water only 10' deep when she was bit. >> i didn't see it coming or see it going. the doctor in the e.r. things according to the bites and where they are it was probably 25' shark. that was his guess. >> she ran to the beach screaming for help and she has bite marks on her back and bruises across her stomach and is expected to recover i.
children, as well. >> america's motor city working to start up for recovery. detroit becomes the largest city in the country to file for bankruptcy in u.s. history. this after a steady drop in population and decline in tax base for the past several decades. now the city is sitting on $18.5 billion in debt. >> one of the things that i want to say to our citizens is that as tough as this is, i really didn't want to go in this direction, but now that we are here, we have to make the best of it. >> detroit's murder rate is also at a 40-year high, and the population is at a low of 700,000. pope francis makes his first trip overseas since becoming pontiff, presiding over world youth day in rio de janeiro, bringing in millions of young catholics from around the world to attend the event that happens every two years. the pope, who has spoken often of concerns for the poor, will tour a shanty neighborhood and speak to business and political leaders. for "teen kids news," i'm laura ingle, "fox news channel in the classroom." >> imagine trying to find your way in a new country when both the languag
in detroit right now is cheap. you can buy a house there if you want, but no one wants to right w. all right. so go elsewhere. >> all right. is part of the solution credit? >> i thought that was how we developed alaska, incentivizing people out there. but the government's had a role of developing this country. the private sector is strong enough now to hale the for profit housing market. there is a way to make money from a lot. there's all of these funds that are buying dilapidated properties. however, when you have a situation that's uneconomic where there is no free market solution, that's when it becomes the role of government. when you've got a house that's dilapidated, it's not going to go away if it's worth nothing like in detroit, for example. otherwise it's like a manmade disaster like a dust bowl. we have to fix up our own mistakes we made. >> okay. john, you've heard it all. >> frannie and freddie are going away, why aren't you celebrating? >> i was just in france, and, believe me, they like texan wearing cowboy boots as much as i like them right now. we're pretty much even. the pr
. girardi gets the boot. >>> some good news for detroit, the tigers win 3 out of 5 from kansas city with their 6-3 win yesterday. detroit pitcher matt scherzer now the season's first 18-game winner. >>> screenerena williams in a r loss. victoria azarenka rallying to win a three-set squeaker. rafael nadal not phased by weather. johnny isner serves. he overcame a knee injury early, now nadal is an u.s. open favorite. >>> patrick reid gets his first-ever pga tour victory. what does he do? why not? kiss the caddie. right? it's also his wife by the way. >>> nascar sprint cup michigan 400. joey logano led the most laps but not at the end. he passes mark martin who was trying to stretch gas without a pit stop. didn't work. logano gets the win there because he ran out of gas, not loga logano, but martin did. >>> anything that floats reget that in key largo. boats may only be made of household the items. they're using bubble wrap, plastic coffee jugs. the winners said they found help for their design online. that's the winner right there. >> something else now to use your bubble wrap for. >>
beating by the detroit lions. tom brady passes and it's a fumble. detroit snatches the ball close to the five. in the second quarter, brady throws a pick straight to chris houston. lions win, 40-9. yikes. >>> to the ravens and panthers. check out this incredible punt return for the 54-yard touchdown. ted ginn jr. then joe flacco throws, oops, interception, for a touchdown. panthers win, 34-27. >>> you see that shirt rg3 is wearing? it cost him 10 ground. griffin was fined during warm-ups for apparel violation. they are required to wear approved apparel for their respective teams. >>> and in baseball, milwaukee brewers ryan braun released a statement apologizing for using banned substances. he admits taking performance enhancing drugs during his 2011 national league mvp season. >>> on to the rockies and phillies. impressive catch by philadelphia's darryn rush. check out that focus and athleticism. phillies win, 5-4. >>> in pga golf, the barclays tournament, so something you definitely don't get to see every day. scott brown's ball bounces off a bridge and rolls onto the green for a
concerns, central michigan towards flint. that will travel towards detroit. it's raining pretty good towards the cape, boston, providence, newport. it's starting to end in hartford. again, southern new england, you'll have a little bit of rain to deal with and we'll clear it out. forecast, little bit of wet weather in the northeast. not a bad day. the middle of the country, brian, there's people in schools, high school kids on football fields. it's still 95 to 100 from texas to minneapolis. >> hydrate, be safe. >>> coming up on the top of the hour, "morning joe," a team is back, willie, barnacle, mika, joe. the white house is weighing its actions to chemical weapons and use in syria. what's on the table and what could impact that decision. when we come back here, we have the cooler. canadian reporter advocating women's rights and she's not afraid to show a little skin to make her point. we'll be right back. [ whispering ] uh! i had a nightmare! the house caught fire and we were out on the streets. [ whispering ] shhh. it's only a dream. and we have home insurance. but if we made a cl
to take advantage of that. today, the final day for organizations to file objections to detroit's bankruptcy filings. they must find that the city is insolvent and has negotiated in good place with creditors. if detroit is deemed eligible, it will be the biggest case in u.s. history. lori: in the meantime, president obama getting back to business. meeting with financial regulators about implementing dodd-frank peter barnes has the very latest. peter: that is just one of the latest things he has on his plate. very busy with things like egypt and syria. the president would like to keep the focus on jobs and the economy. foreign-policy issues may not let him do that. he goes on a two were later this week. congress is out on its regular august recess. he has a megaphone right now and he needs to use it while he can. >> every president in their second term, lame ducks get closer every day. the president is walking a fine line of where he is in that timeline. peter: the end of the fiscal year is september 30. they have not worked out a deal to fund the government. they are looking at
francisco, atlanta, even detroit. bucking that trend are the not so hot markets in orange, cleveland, even wr -- where i am in new york. we have been asking you how much does your confidence in the economy effect your spending habits samantha says . . . joe like a lot of you agrees with samantha . . . tell me what you think by tweeting me @ali velshi, or leave us a comment on facebook. let's get back to one of the biggest influences on how you feel on the economy. and that is your home. the influential s&p, case schiller index is showing a decline on how fast home prices are rising. i want to explain that what means, and there's no better to do that than one of the men who's name is on that index. he is a best-selling author, and correctly predicted the housing market collapse. professor schiller thank you for being with us. i have tried as i often do to interpret the report. give me a grade. how did i do professor? >> well, pretty good. i think it's hard to interpret markets that are basically speculative. they don't tie up necessarily one to one with the confidence indexes. >> yeah, and
in sports, the as works in detroit trying to make it two straight wins over the tigers. and the giants, a couple of home runs early. could they hang on against the rockies? and the astros. the most profitable team in baseball history? i will have that story for you later in sports. unbelievable. shhhhh! in our day, we didn't have u-verse high speed internet. yeah, our babysitter didn't have a million ways to serve mom up on a silver platter. we had to count sheep to fall asleep. and i always worried that i was creating an overcrowded sheep farm. in my head... never looked like that farmer took proper care of those sheep. too much? a little. [ male announcer ] connect all your wi-fi-enabled devices with u-verse high speed internet. rethink possible. >> the temporary shut down of the bay bridge is almost here. now less than one day left until the old span is closed for good. a moment of bay area history really. here is what you need to know during the temporary closing. all lanes in both directions will close at 8:00 p.m. tomorrow night, august 28. workers will then make the transition f
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